The Bitcoin price is expected to reach an all-time high before the end of the year: Anthony Scaramucci

Anthony Scaramucci, the founder and CEO of alternative asset management firm SkyBridge Capital, has predicted that BTC will reach its all-time high before the end of 2024 as the US Securities and Exchange Commission (SEC) has approved the launch of spot Bitcoin Exchange Traded Funds (ETFs).

In an interview with CNBC, the American financier, who briefly served as White House communications director in 2017, said BTC is likely to break its all-time high by January 2025 as the SEC has allowed retail investors access to the leading digital asset.

All-time high before the end of the year

Scaramucci's comments come within 24 hours of the US Securities and Exchange Commission giving the green light to 11 spot Bitcoin ETFs for listing and trading on the Nasdaq, the New York Stock Exchange (NYSE) and the Chicago Board Options Exchange (CBOE). .

The approval, which has been awaited for years, will give retail investors access to BTC, providing an alternative to the current financial system and accelerating cryptocurrency adoption.

The SkyBridge founder, like the crypto community, believes the SEC's decision marks a turning point for Bitcoin, stating that the event is a “really big breakthrough for Bitcoin as a digital asset.”

“I think it's a much broader story for digital property in general, and I think Bitcoin will probably hit its all-time high before the end of the year and probably break its all-time high by this time next year,” the CEO explained.

Anthony Scaramucci 2 (Consensus 2023)

SEC strangely endorses BTC

Bitcoin reached its current all-time high in November 2021 during the last bull market. However, the asset's price collapsed along with the entire crypto market and several projects as bear season took the reins in 2022.

The price of the cryptocurrency increased by 150% in 2023, driven by excitement over the spot approval of the Bitcoin ETF and other upcoming events such as the fourth Bitcoin halving, which historically marks the start of bull seasons.

According to Scaramucci, 2022 was “very brutal” for SkyBridge, but 2023 became its best year after the company “incrementally” purchased BTC, Ether (ETH), and Solana (SOL). The former White House communications director said the SEC is strangely supportive of BTC as the agency has allowed investors to add the crypto asset to their brokerage accounts.

When asked if he would buy the ETFs, Scaramucci answered in the affirmative and stated that he would be a celebratory buyer.

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